Based on the provided reference, "CID bank" is not a standard banking term. Instead, the reference discusses the CID (Card Identification) number, which is a security feature associated with a credit card. It is not a bank entity.
Understanding the Card Identification (CID) Number
Here's a breakdown of the CID number:
- Definition: The CID is a four-digit, non-embossed number printed on the front of your credit card, usually above your account number.
- Purpose: It serves as an extra security measure.
- Usage: The CID is typically submitted when your credit card's magnetic strip is swiped, along with the issuing bank's contact information.
CID Number - Key Points
- Location: Printed on the card's face.
- Digits: Always four digits.
- Embossing: It is not embossed on the card.
- Security: Enhances transaction security.
- Transaction: Used when the magnetic strip is swiped.
- Relation to Bank: The CID is associated with the card, not a specific bank called "CID bank".
Example
If you are using a credit card to make a purchase in person at a store, the CID number is read by the card reader, along with the other information on the magnetic strip.
Therefore, the term "CID bank" is incorrect. The CID is a card identification number for security, not a bank.
